All my previous camera lenses have convex front lens elements. It appears that the RX100 has a concave front element. Whats going on here?

Is the RX100 lens system some kind of new design?

The front elements of many lenses are negative meniscus elements -- it just depends on the particular design whether the concave surface or the convex surface is at the outside. A number of old lenses had the concave surface forward.

also the Olympus 50/2,0 macro for fourthirds is based on such a design. It's rare but not new.